![]() *You must be enrolled in a qualified high-deductible health plan to contribute to an HSA. Note: Individuals 55 and older may make additional “catch-up” contributions up to $1,000 each year until they enroll in Medicare. Since it was enacted, OTC medical purchases can be reimbursed via an HSA or FSA without the need for a doctor’s prescription. It is important to note that your contributions, when combined with any contributions from League City, may not exceed the IRS annual maximum of $3,600 for individual coverage and $7,200 for family coverage in 2021. The Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted in March 2020, has changed the rules for over-the-counter drug coverage. Catch-up contributions up to $1,000 per year if you are over age 55 (until you enroll in Medicare). ![]() After-tax cash contributions that are deductible when you file your taxes.Youre eligible to fund an HSA since your HRA is now an HSA-qualified medical plan as well. A health savings account (HSA) is a tax-advantaged account that individuals can use to save and pay for unreimbursed medical expenses (e.g., deductibles. Pre-tax contributions through payroll deductions The HRA reimburses all deductible expenses above 1,500.There are several ways to contribute money to your HSA: This contribution is meant to partially offset the HDHP with HSA’s higher deductible. If you enroll in the HDHP with HSA, you will receive an annual League City contribution of $1,500 for individual coverage and $2,000 for all other tiers into an HSA. Expense Eligible Baby aspirin: Yes: Baby bottles: No: Baby breathing monitors: Yes: Baby carriers: No: Baby food: No: Baby formula: Maybe: Baby monitors: No: Baby oil: No: Baby powder: No: Baby rash creams: Yes: Baby rash ointments: Yes: Baby scales: No: Baby sunscreen: Yes: Baby thermometers: Yes.
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